Markets

Redfin said it expects home sales to keep falling through 2023, as it laid off 13% of its workforce. US housing companies are “in the jungle” now, its CEO said, as buyer demand falters. Rising mortgage rates and high inflation are key pressures pulling down the number of home sales.   Loading Something is loading. Thanks… Continue reading US home sales will keep falling through 2023, Redfin says: ‘Housing companies are in the jungle now’

Sam Bankman-Fried broke his silence days after his crypto exchange FTX International imploded in spectacular fashion.”The full story here is one I’m still fleshing out every detail of, but [at] a very high level, I fucked up twice,” he tweeted.Bankman-Fried attributed FTX’s collapse to higher-than-expected leverage and a waterfall of withdrawals. Loading Something is loading.… Continue reading ‘My hands were tied’: Sam Bankman-Fried breaks his silence days after the dramatic collapse of his crypto exchange

Binance is highly unlikely to move forward with its proposed buyout of FTX, Coindesk reported Wednesday.  Binance reconsidering the rescue deal after reviewing FTX’s internal data and loan commitments, the report said.  Binance CEO Changpeng Zhao said Tuesday FTX asked for help amid a ​”significant liquidity crunch”.  Loading Something is loading. Thanks for signing up!… Continue reading Binance is reconsidering its takeover of FTX after due diligence of the failed crypto exchange, report says

Changpeng Zhao doesn’t view the takeover of FTX as a “win for us,” according to a memo to Binance employees.  “Regulators will scrutinise exchanges even more. Licenses around the globe will be harder to get,” he said.  The Binance CEO also shared on Twitter his takeaways for the crypto industry.  Loading Something is loading. Thanks… Continue reading Binance CEO says takeover of rival FTX is not a ‘win for us’ and shares 2 big lessons for crypto industry

Inflation was a top concern for many US midterm voters, the AP Votecast Survey found. Rising prices have darkened the outlook for growth, jobs, asset prices, and household finances. Inflation and rate hikes are squeezing US consumers, and could plunge the economy into recession.  Loading Something is loading. Thanks for signing up! Access your favorite… Continue reading US voters flagged inflation as a major concern in the midterm elections. Here’s why soaring prices are darkening America’s economic outlook.

Rising interest rates will cause further casualties in the crypto space, according to the Peterson Institute’s Martin Chorzempa. FTX announced Tuesday it agreed to be taken over by rival exchange Binance, shocking investors. “We can expect a lot more problems to come,” Chorzempa told CNBC. Loading Something is loading. Thanks for signing up! Access your… Continue reading The Fed’s jumbo-sized rate hikes will uncover more ‘skeletons in the closet’ for crypto after FTX’s rescue, economist says

Digital World, the SPAC linked to Donald Trump, fell Wednesday in the wake of the 2022 mid-term elections.  A number of Republican candidates backed by Trump lost their bids or were trailing in their races against Democrats.  Control of Congress was still up in the air after tight races around the country.  Loading Something is… Continue reading Trump-linked SPAC slides 21% as some candidates endorsed by the former president flounder in midterm elections

RoboBurger Opens Its First Higher Ed Location at St. John’s University in Queens, New York , /PRNewswire/ — RoboBurger, the world’s first fully autonomous robotic burger chef in a box, with the support of Chartwells Higher Education, is opening its first higher ed location at St John’s University in Queens, New York. RoboBurger will give students… Continue reading RoboBurger Goes to College: The Burger Robot Opens Its First New York Higher Ed Location